UPL

OVERVALUED

UPL

Agri · NSE

140.3% vs fair value

52W Low

565

+11.6% from low

52W High

812

-22.3% from high

News sentiment
9 bull29 neu5 bear

Valuation Gauge

OVERVALUED-140.3% Margin of Safety
OVERVALUEDFAIRLY VALUEDUNDERVALUED

Current Price

₹631

Fair Value

₹262

Fair Value Analysis

₹262

Based on earnings growth potential for Agri sector companies | ROCE improving (latest 13.1%) — capital allocation becoming more efficient.

Low confidence

Growth Valuation

100% weight

₹262

Price vs Market

UPL
Nifty 50

Shareholding Pattern

Stock Health Score

B

Solid Fundamentals

6.1 / 10

Profitability

6/10

ROE of 5.6% is below the Agri sector benchmark of 15%

Debt & Leverage

10/10

D/E ratio of 0.6x is well within the Agri sector norm of 0.8x — strong balance sheet

Valuation vs Peers

4/10

P/E of 27.7x is 11% above the Agri sector median of 25x — slightly expensive

Cash Flow

10/10

FCF margin of 18.3% — exceptional cash generation (₹8,456 Cr)

Earnings Growth

1/10

5yr EPS CAGR of -37.2% — severe earnings decline

Dividend

6/10

Dividend yield of 0.9% provides moderate shareholder returns

Company Health Timeline

10-year financial health at a glance

FY17
FY18
FY19
FY20
FY21
FY22
FY23
FY24
FY25
FY26
Revenue Growth
OPM %
Net Profit
Free Cash Flow
ROE %
ROCE %
Debt / Equity
Interest Cov.
Health Score
100
100
75
88
88
88
100
0
63
63
Strong
Moderate
Weak
Poor
No data

Sentiment Trend — Last 30 Days

Historical Returns

Key Ratios & Growth

Revenue Growth (YoY)

+17.7%

Year-on-year revenue change

Profit Growth (YoY)

+19.9%

Year-on-year PAT change

Key Financials

EPS (TTM)

₹22.8

P/E Ratio

27.7x

P/B Ratio

1.9x

ROE

5.6%

ROCE

6.8%

Debt / Equity

0.57x

Beta

0.58

Div Yield

1%

FCF (Cr)

₹8,456 Cr

Revenue (Cr)

₹46,262 Cr

EPS Growth 5Y

-37.2%

Mkt Cap (Cr)

₹53,443 Cr

52W High

₹812.2

52W Low

₹565.2

Book Value/Share

₹337

Financial History

PeriodRevenueOp ProfitOPM%PATEPS
2026-03-31₹51.8K Cr₹9.1K Cr18.0%₹2.2K Cr₹22.78
2025-03-31₹46.6K Cr₹7.1K Cr15.0%₹820 Cr₹10.62
2024-03-31₹43.1K Cr₹4.3K Cr10.0%₹-1.9K Cr₹-14.21
2023-03-31₹53.6K Cr₹10.2K Cr19.0%₹4.4K Cr₹42.28
2022-03-31₹46.2K Cr₹9.5K Cr21.0%₹4.4K Cr₹42.18
2021-03-31₹38.7K Cr₹8.4K Cr22.0%₹3.5K Cr₹33.40
2020-03-31₹35.8K Cr₹6.8K Cr19.0%₹2.2K Cr₹20.66
2019-03-31₹21.8K Cr₹3.8K Cr17.0%₹1.6K Cr₹17.35
2018-03-31₹17.4K Cr₹3.4K Cr20.0%₹2.0K Cr₹23.57
2017-03-31₹16.3K Cr₹3.0K Cr18.0%₹1.7K Cr₹20.18
2016-03-31₹14.0K Cr₹2.3K Cr17.0%₹952 Cr₹13.00
2015-03-31₹12.1K Cr₹2.4K Cr20.0%₹1.2K Cr₹15.82

Compounded Growth Rates

Sales Growth

3Y-1.1%
5Y+6.0%
10Y+13.9%

Profit Growth

3Y-20.5%
5Y-8.7%
10Y+8.8%

EPS Growth

3Y-18.6%
5Y-7.4%
10Y+5.8%

Peer Comparison

Agri
StockPriceFair ValueMoS%P/EROESignal

Chambal Fertilizers

₹454₹955.6+52.5%9.220.4%UNDERVALUED

Paradeep Phosphates

₹127₹235.6+46.1%12.615.6%FAIRLY_VALUED

EID Parry India

₹780₹1,337.6+41.7%11.825.5%FAIRLY_VALUED

Dhanuka Agritech

₹1,173₹1,150.1-2.0%6.919.7%FAIRLY_VALUED

LT Foods Limited

₹395.7₹374.4-5.7%22.715.5%FAIRLY_VALUED

Coromandel International

₹1,823₹1,625.2-12.2%28.215.6%FAIRLY_VALUED

PI Industries

₹2,780.1₹2,442.6-13.8%32.617.1%FAIRLY_VALUED

AWL Agri Business Limited

₹195₹144.6-34.8%24.810.5%OVERVALUED

Institutional Activity

Bulk deals, block deals, short selling & delivery volume — NSE data

Insider Trading

Community Pulse

Exchange Filings

BSE announcements · last 90 days

Loading filings…

Share this Stock

Download card · Share on WhatsApp

UPL share card

Share on WhatsApp, Twitter, or any group — each share brings new users to Veritas Quant